Zee Beam News

MOSCOW, May 28 (RIA Novosti) - The Russian government will sue Swiss trader Noga for 1 million euros ($1.6 million) following the seizure of Russian assets in France, the Finance Ministry said on Wednesday. The French accounts of Russian organizations including Russia's Central Bank and news agency RIA Novosti were frozen in January over a 49-million euro ($75 million) claim filed by Noga for outstanding debts under barter oil deals struck with Russia's government in the early 1990s. A French court ruled in early May that a Russian Central Bank account held with France's Calyon bank, which was frozen in January following a Noga suit, should be unfrozen. The decision was followed by a court ruling in Paris on May 16 unblocking RIA Novosti's account in France. The court also ordered the Swiss company to pay 15,000 euros ($23,000) to the Russian news agency. The Russian government filed a compensation claim with a French court on Tuesday, saying the actions by Noga damaged Russia's reputation and economic interests. Asked whether it was possible to obtain the compensation from the bankrupt company Noga, Russian Deputy Finance Minister Dmitry Pankin answered positively, adding that the claim involved French justice bodies as well. Since 1993, Noga has repeatedly applied for the seizure of Russian property abroad, including a sailing vessel and military aircraft that were taking part in exhibitions and shows. In 2005 it seized a collection of paintings owned by the Pushkin Fine Arts Museum in an attempt to secure the repayment of debts.